Agilent Technologies’ Stock In Focus After Firm Announces New Organizational Structure: Retail’s Eyeing Q4 Earnings
By Stocktwits Inc | First Published Nov 26, 2024, 12:39 AM ISTThe new structure organizes the company’s businesses according to its end markets and customers.
Shares of laboratory technologies firm Agilent Technologies Inc ($A) were in focus on Monday after the company announced a new organizational structure to accelerate its operational transformation, which it believes will drive higher growth through a market-focused, customer-centric enterprise strategy.
The new structure organizes the company’s businesses according to its end markets and customers. It will enable closer collaboration among the business groups and better execution on cross-division, customer-first priorities, the firm said in a statement.
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The three new business groups include Life Sciences and Diagnostics Markets Group (LDG), Applied Markets Group (AMG), and Agilent CrossLab Group (ACG).
LDG represents 38% of the company’s revenue and is primarily focused on its pharma, biopharma, clinical, and diagnostics end markets. AMG represents 20% of Agilent’s revenue and is primarily focused on the food, environmental, forensics, chemicals, and advanced materials markets.
Meanwhile, ACG represents 42% 3 of Agilent’s revenue and is focused on supporting our customers in all our end markets.
Agilent also said Simon May, who recently served as president of the Diagnostics and Genomics Group (DGG), will serve as president of LDG. Mike Zhang has been promoted to president of AMG while Angelica Riemann will continue to serve as president of ACG.
CEO Padraig McDonnell said the new organizational structure is an important step in the firm’s transformation to become a nimbler company that puts its customers and markets first.
Agilent is set to release its fourth-quarter and fiscal 2024 results after the closing bell on Monday. These results will be reported under the existing fiscal year 2024 organizational structure, the company clarified.
Agilent also said that its first-quarter 2025 results will be reported under the new organizational structure.
Following the developments, retail sentiment on Stocktwits continued to trend in the ‘neutral’ territory (54/100), albeit with a higher score. The move was accompanied by high retail chatter.
Shares of Agilent have lost over 3% on a year-to-date basis.
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